Yes they do, the deal summary is on the company website and it specifically mentions the Buda/Austin Chalk. You should do you research instead of telling others to be sure about the facts. The same presentation give all the information you raise questions about. They have farm in options on 147000 acres in addition to the 55000 so there is huge potention.
We know the line....when it is cold out, they use the phase "Climate Change" but when it is hot, it's called "Global Warming". Very clever BS.
Since the 2008 price collapse these people have been in a race to the bottom to see how much $ they can lose for stockholders. They need to start drilling for water or something else because the price of gas is the only thing out there in a permanent one way terminal decline in which every recovery attempt is smacked down. Making it up with volume doesn't cut the mustard. Everyone is benefitting from dirt cheap gas except the people that produce and invest in it. After 5 years of bad news, these producers need to be moving away from gas production as fast as they can.
Only a small amount of the oil in placed is booked. Unconventional exploitation hasn't been recognized or developed.
Somebody told me they made 30 cents last quarter but I am thinking they probably made more like 3 cents(Chinese money) for the entire year.